Nextpower Inc. · NASDAQ:NXT

Nextpower — Q1 2024 Earnings Presentation

13 slides from Nextpower's earnings presentation, Jul 26, 2023

  1. Slide 1: Q1 FY2024 Earnings Presentation

    Q1 FY2024 Earnings Presentation July 26, 2023 1

  2. Slide 2: Disclaimer

    Disclaimer Cautionary Note About Forward-Looking Statements Industry and Market Data This presentation is made by Nextracker, Inc. (the "Company") and contains forward-looking statements within the meaning of Market data and industry information used throughout this presentation are based on managem

  3. Slide 3: Q1 Fiscal Year 2024 Highlights

    Q1 Fiscal Year 2024 Highlights Business Highlights FY Q1 Revenue • Innovation that delivers customer value ongoing; upcoming product announcements planned at RE+ (Sept ‘23) $ 480M • Significant customer wins in FYQ1; new record backlog 19% Y/Y Growth • Global manufacturing expansion progressing stea

  4. Slide 4: Nextracker's U.S. Supply Chain

    Nextracker’s U.S. Supply Chain • Dedicated new factory in Memphis with key industry, public sector, and association stakeholders • >25 GWs of contracted capacity for key components at >10 facilities across USA1 SEIA CEO Nextracker CEO Abby Hopper US Steel CEO • US steel sourcing mostly from electric

  5. Slide 5: Nextracker Q1FY24 Demand Update

    Nextracker Q1FY24 Demand Update More than 10 GW of Global Wins in Q1FY24 • Strong demand and sales momentum globally • Backlog >$3B • IRA rules clarification not slowing demand • We believe 30% ITC providing foundation for IRA 1The Nextracker pins represent the approximate geographies of multiple pr

  6. Slide 6: Financial Update

    Financial Update ©2023 NEXTRACKER | Proprietary 6

  7. Slide 7: Q1 2024 Results

    Q1 2024 Results Revenue ($mm) Adj. EBITDA ($mm) Key Highlights +19% +161% RoW US 84 • Revenue growth on track, US approximately 56% of revenue; RoW 44% 480 403 • Improved execution, reduced logistics 209 5.1% costs, and higher volume benefitted Q1 134 profitability 17.4% 32 • NWC management, custome

  8. Slide 8: Balance Sheet and Liquidity

    Balance Sheet and Liquidity $M Q4 FY'23 Q1 FY'24 Key Highlights Cash 130 355 AR & Contract Assets 569 543 I nv entory 138 137 Strong Capital Structure Other Current Assets 35 82 Current Assets 872 1,117 • Liquidity as of June 30, 2023, $855M1 Non-Current Assets 547 540 • Limited debt: term loan $150

  9. Slide 9: FY2024 Updated Guidance

    FY2024 Updated Guidance Assumptions: Revenue • Interest and Other Expense $15M - $20M $2.2-$2.4B • Adjusted Income Tax Rate 15% - 20% 21% Y/Y Growth at Midpoint +$100M vs Prior Guidance • WASO of 147.5M Adj. EBITDA1,3 • Excludes possible benefits related to IRA $290-$340M tracker manufacturing tax c

  10. Slide 10: Q&A

    Document contains sensitive confidential information and is restricted to only authorized individuals. Q&A ©2023 NEXTRACKER | Proprietary 10

  11. Slide 11: Appendix

    APPENDIX ©2022 NEXTRACKER | Proprietary 11

  12. Slide 12: GAAP Net Income to Adjusted EBITDA

    GAAP NET INCOME TO ADJUSTED EBITDA $M Q1 FY'23 Q1 FY'24 GAAP Net Income 24 64 Net Interest (0) 1 Provision for Income Taxes 6 9 Depreciation Expense 1 1 Intangible Amortization 1 0 Stock-Based Compensation Expense 1 8 Adjusted EBITDA 32 84 For fiscal quarters Q1 2023 and Q1 2024, adjusted free cash

  13. Slide 13: Thank You

    Thank You ©2022 NEXTRACKER | Proprietary 13

Nextpower — Q1 2024 Earnings Presentation on 6ix